Property Taxes Remedy for Unequal Appraisal
Robert A. McCulloch, CMI
In a practice known as “sales chasing”, appraisal districts often increase the appraised values of properties that have recently sold to their sales price. However, adjusting a property’s appraised value to its sales price greatly undermines the overriding concern of equity by creating a dual standard of valuation: one for properties that have recently sold and one for those that have not. Fortunately, the Texas Property Tax Code, as amended by the enactment of Senate Bill 841, features a remedy for the practice of sales chasing
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